HomeworkLib
Question

When electronic data is obtained from an outside entity, _______. A. the auditor should assume that...

When electronic data is obtained from an outside entity, _______.

A. the auditor should assume that it is valid and free from error

B. the auditor should assume the data is inaccurate and unreliable

C. the auditor should consider the reliability of the data.

D. it should be referred to management for vetting, before being submitted to the auditor for analysis
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer is C

For explanation refer note attached Aruedlny Nt laind ehenduct louee to A so audit endene More aliahle Quhide Obtaived dnely liable than eidenu talud olire cy EvSUD ditate the Coro barat meo obtained Nov Judependeat Aoule inneae a wan auditr obtains/som evidence Auditor u extanal /mato

0 0
Add a comment
Know the answer?
Add Answer to:
When electronic data is obtained from an outside entity, _______. A. the auditor should assume that...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • If the auditor is performing substantive tests at an interim date, the auditor must perform steps...

    If the auditor is performing substantive tests at an interim date, the auditor must perform steps to update their conclusion to the date of the financial statements. True False Flag this Question Question 2 Audit data analytics can be used _______. -only at the beginning of the audit -only at the end of the audit. -by the internal audit function only -at virtually any phase of the audit Question 3 Once the auditor has planned the application of audit data...

  • The following are several multiple-choice questions adapted from the CPA exam that concern the persuasiveness of...

    The following are several multiple-choice questions adapted from the CPA exam that concern the persuasiveness of evidence, audit documentation, and materiality. For each question, selected the best answer and then explain why it is better than all the alternatives. Your explanations should address all the possible alternatives presented in the question. Which of the following types of documentary evidence should the auditor considered to be the most reliable and why? A sales invoice issued by the client and supported by...

  • What is the meaning of independence from the perspective of the government auditor and why is...

    What is the meaning of independence from the perspective of the government auditor and why is independence so important? See the article below to answer the question. Independence The standard of independence covers both independence of mind and independence in appearance. Independence of mind concerns the state of mind that permits the auditor to audit without being affected by influences that may compromise professional judgment, thereby allowing the auditor to act with integrity, objectivity and professional skepticism. Independence in appearance...

  • Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the...

    Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the auditor to verify manual controls within the software application are functioning as designed -may corrupt the client's system, and should not be attempted -will allow the auditor to verify that the software application is functioning as designed -should be performed without the knowledge of the client's senior management Question 19 The tolerable deviation rate _______. -relates to how many immaterial misstatements the auditor finds...

  • Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches...

    Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.5 per switch. As an alternative, Vista's CEO considered purchasing either machine A or machine B so the company could manufacture its own switches. The CEO decided at the beginning of 2019 to purchase machine A, based on the following data: Machine A $148,000 Machine B Annual fixed cost (depreciation) Variable cost per switch...

  • Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches...

    Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.9 per switch. As an alternative, Vista’s CEO considered purchasing either machine A or machine B so the company could manufacture its own switches. The CEO decided at the beginning of 2019 to purchase machine A, based on the following data: Machine A Annual fixed cost (depreciation) $ 144,000 Variable cost per switch 0.90...

  • Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches...

    Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.4 per switch. As an alternative, Vista's CEO considered purchasing either machine A or machine B so the company could manufacture its own switches. The CEO decided at the beginning of 2019 to purchase machine A based on the following data: Annual fixed cost (depreciation) Variable cost per switch Machine A $155.000 0.85 Machine...

  • Check my work Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier...

    Check my work Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.8 per switch. As an alternative, Vista's CEO considered purchasing either machine A or machine B so the company could manufacture its own switches. The CEO decided at the beginning of 2019 to purchase machine A, based on the following data: 0.31 points Annual fixed cost (depreciation) Variable cost per switch...

  • 1. When the purpose of data collection from a cognitive test is to evaluate understanding of...

    1. When the purpose of data collection from a cognitive test is to evaluate understanding of a topic, which of the following should be examined: a.) content validity b.) predictive validity c.) concurrent validity 2. As test length increases (but not so much that fatigue becomes a source of error), (Choose all that apply) a.) reliability increases b.) SEM decreases (this answer is correct but another one also) c.) SEM increases d.) reliability decreases 3. If the reliability for scores...

  • Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches...

    Vista Company manufactures electronic equipment. In 2018, it purchased from an outside supplier the special switches used in each of its products. The supplier charged Vista $2.6 per switch. As an alternative, Vista's CEO considered purchasing either machine A or machine B so the company could manufacture its own switches. The CEO decided at the beginning of 2019 to purchase machine A, based on the following data: Annual fixed cost (depreciation) Variable cost per switch Machine A $141,000 0.60 Machine...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT